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Discussion in '458 Italia/488/F8' started by Dbops618, Mar 5, 2020.
is it true that the f8 can be financed for 84 months trough ferrari finance with zero down
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Depend on you credit score, do a ballon of 60 months it work better
on a price of 303.000 tax included. how would the payments and final balloon payment be
I will be only guessing better ask your dealer,
But my opinion no money down aprox 3,500
i am concerned about the balloon payment...amount
if you are considering an 84 month car payment, may I respectfully suggest you not buy the car and maybe instead look at a used 488 or similar for much less money. The car is going to be worth half it’s value and you still will have 30 months of payments left.
The balloon is set by Ferrari financial. Go talk to your dealer and get the correct information.
sound advice. I’m fortunate to have a large LOC at Libor + 100 bps. Instead of financing if I didn’t want to pay cash I’d just borrow on the line to buy the car. Only caveat to what you said would be if the individual had more than enough to pay the balloon but just didn’t want to liquidate positions upfront and figured they could cash flow the payment for 5-7 years for as low as possible. Not a horrible strategy.
To each their own but I couldn’t do a 7 year payment trying to get the latest and greatest car. I’d buy used and something in my means. No disrespect intended to OP.
Don't do it on the F8 for reasons stated. Look at your own car buying pattern in the past. If you change car every 2 years like some of people do here, you will be extremely upside down with F8. Look at 488. Unless you have enough means and you don't care and your cash freed up can have better use. Throwing 150k in 2 years can mean something to somebody.
Looks like Ferrari is desperate for F8 sales.
60 Month FFS Balloon for F8 is 59% of MSRP
Probably. However, all exotic car makers are 'desperate' for sales at this point...
I haven't seen any F8 finance offers, but it seemed to me that on all of the literature/offers for other vehicles, Ferrari Financial expected at least $15,000 down. Maybe that's just the standard proposal.
Ryan at FoH here will have more details.
I personally would never ever finance a depreciating asset.
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Same. Cash or bust for me.
How do you expect Ferrari to bring in thousands of new buyers if their Finance arm doesn't "buy" the cars for them? LOL
Financing is fine. But you have to be reasonable with the terms. 84 months to finance a car? Something that’s going to be worth half in 7 years??? Not the most prudent step to take.
Too simplistic, and variables apply. The larger question is overall financial condition, interest rate, amount of downpayment, etc.
Could you afford to buy it without financing?
Can you make more with investments that would make it better to keep money in the investment and just bear the 4-6% interest?
Will you put enough down to maintain a positive equity position during your ownership?
How stable is your future cashflow to ensure continued payments without interruption?
There are a lot of times when financing is an ideal option where the money is productive elsewhere. Maybe a large % of finance clients don't fit my criteria either.
As an aside, the above is why I have *not* put a deposit down for an F8: that initial depreciation would leave me [and most buyers?] upside down very quickly unless you do $120-150k downstroke. And then it will be gone after two years! No, better to stick with my 458 and only lose 10-15k per year...
at the end of years
at the end of 4 years the balance will be 148,000. that car will be worth around that mark
after 4 years the payoff is about 148,000. so isnt the car worth about that amount at 4 years. And this financing is with zero down
Personally if the rate is cheap I’ll borrow till the cows come home.Ill make more with the money to invest. I don’t know about 7 years though. Most of those rates are in the 4-6% on fairly prime credit. There is loans out to 144 months on those amounts but the rates are so high. My old beater is paid for though
At a minimum FFS requires you to put down the sales tax upfront on a lease. This is so FFS is not out of pocket anything to register the vehicle. Many other captive finance arms will allow you to roll the sales tax into the lease, not FFS, they need it upfront, but not much else assuming superb credit and payment history (apart from first payment and security deposit).
If it takes you the 84 month finance option to buy anything, you're clearly stretching yourself thin.
have you kept a car for 7 years? I sure as hell haven’t.
Financing is good when you use as a tool to get a better price, which I often do. The dealer gets a commission on the loan (usually after 90-120 days) and I get money off the car and promise not to pay off the loan until after the time period. It has always worked for me except with Ferrari's, they have a different structure. I do not give financial advise, but if I was I'd say at 0% it is not a bad idea, if I can make what I have averaged of the last 5 years I could almost make up for the loss of the cars value.